Panoro Energy reaches target depth in Aje-5 well

Created: Thursday, 03 September 2015 10:23

indications are that the net reservoir in Aje-5 is slightly better than wells that had been drilled earlier in the field. (Image source: M. Moers/Flickr)Panoro Energy has announced that it has reached its target depth of 3,255 metres in the drilling of the Aje-5 production well in Nigeria

The Aje-5 well is on the OML 113 licence offshore Nigeria and has been drilled with the Saipem Scarabeo 3 semi-submersible drilling rig in 300 metres water depth. Drilling operations at Aje-5 began in end-July this year and have been completed ahead of schedule with no safety related incidents reported.

It was drilled as a deviated well targeting close to the Aje-2 well subsurface location. Aje-2 was drilled in 1997 and encountered and tested a high quality oil-bearing Cenomanian reservoir. The well is now being completed as a subsea oil production well.

Preliminary indications are that the net reservoir in Aje-5 is slightly better than had been seen in Aje-1, Aje-2 and Aje-4 wells. The Aje joint venture partners are continuing to evaluate opportunities to commercialise this significant hydrocarbon resource in the future.

John Hamilton, CEO of Panoro Energy, said, “We are pleased to see the excellent operational results to date in the drilling of the Aje-5 well and to report that the well has been efficiently drilled ahead of schedule by the operating team. The drilling of the two production wells is a significant part of the overall Aje development capex and we are very encouraged by the project execution so far. We look forward to reaching first oil in the coming months and establishing a renewed platform for 2016 and beyond.”